The East Midlands region and London now have the oldest first-time buyers in the UK, with an average age of 33, according to data from TSB. Yet, only 12 months ago, the average age of someone purchasing their first home in the East Midlands was 30 years old.
In East Anglia, the average age has risen from 29 to 32 over the same period, which covers Q1 2024 to Q1 this year.
Yorkshire and the Humber is now the only region where first-time buyers, on average, are aged 29 compared to all other regions, where they are 30 years old. It is also the only region where the average age of first-time buyers has decreased year-on-year.
Meanwhile, first-time buyers who received money from a friend or family member fell from 34% in Q1 2024 to just under a third – 30% – in Q1 2025.
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Stamp duty changes drive up FTB sales
Ahead of the stamp duty changes that came into effect on 1 April, first-time buyers accounted for 32% of all mortgage completions in the first three months of the year, up from 29% in Q1 2024.
Across the UK, TSB saw most first-time buyers in the South East and London at 17%, followed by the North West at 12% and Scotland at 10%. London saw the largest increase in completions for first-time buyers, up 5%, followed by Wales and Yorkshire and the Humber, both up 1%.
Reflecting lower rates in the market, TSB found first-time buyers are now taking out slightly shorter mortgage terms – down from 32 to 31 years in a year.
Craig Calder (pictured), secured lending director at TSB, said: “Many first-time buyers are continuing to rely on the Bank of Mum and Dad to put down a deposit on their first home. But while it’s taking them slightly longer to get on the property ladder, they’re taking shorter repayment terms when they do.
“In a competitive mortgage market, first-time buyers should monitor mortgage rates and speak to their bank or broker to find the best deal to help them buy their dream home.”
